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Published in House and Home on Friday, January 6th 2012 at 13:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
January 06, 2012 16:05 ET
TMM, Inc. Completes Subscription Offering to Private Investors
WILMINGTON, DELAWARE--(Marketwire - Jan. 6, 2012) - TMM, Inc. (PINKSHEETS:TMMI) ("TMMI") or (the "Company") is pleased to announce that the Company has successfully completed its Subscription Offering which was initiated in late October, 2011 for private investors and which has raised $500,000 U.S. for the Company. The $0.02 per Unit offering consisted of one share of TMMI common stock and one Warrant to purchase one additional share of TMMI common stock at $.05 per share within three (3) years.
The Company will use the Subscription funds to cover its expenses associated with gathering and organizing the Company's corporate governance documents and intellectual property records. In addition, such Subscription proceeds will enable the Company to continue developing its TRUDEF™ Technology which is the successor of the Company's VDK2.0 SoftVideo™ fractal compression technology which was first under development in the 1990's. The Company is currently developing its own Microsoft Media Foundation 2012 library supporting TRUDEF™ Fractal Video Compression in Windows Vista, Windows 7 and Windows 8. Microsoft Media Foundation is the next generation Multimedia platform for Windows that enables developers, content providers and consumers to embrace the new wave of premium content.
The Company's goal is to complete development of its TRUDEF™ technology to make it commercially viable to meet the demands of the growing high definition video market.
ON BEHALF OF THE TMMI BOARD OF DIRECTORS OF TMM, INC.:
Gerard V. Cavanaugh, Chairman and President
For more information, please visit the Company's Website at [ http://www.tmmi.us ].
Safe Harbor Statement
The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may", "should", "will", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "forecast", "project", or "continue", the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. Factors may cause the Company's actual results to differ materially from any forward-looking statements. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward-looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.
